Japanese bitcoin treasury firm Metaplanet has purchased 775 BTC for roughly $93 million, bringing its total holdings to 18,888 BTC.
The latest acquisition was made at an average price of $120,006 per coin, according to company president Simon Gerovich. Since launching its accumulation plan in April 2024, Metaplanet has quickly risen to seventh place among the world’s largest corporate holders of Bitcoin, data from Bitcointreasuries shows.
The firm has now spent $1.94 billion building its position at an average cost of $102,653 per BTC. “18,888 BTC. Onward and upward,” Gerovich wrote on X after announcing the purchase.
Earnings Beat and BTC-Backed Credit Plans
The company recently reported strong Q2 results, with revenue up 41% quarter-over-quarter at 1.2 billion yen ($8.4 million). Net income swung into the positive, hitting 11.1 billion yen ($75.1 million) after posting a loss in the previous quarter.
Alongside the earnings, Metaplanet introduced “Metaplanet Prefs,” a strategy to build a BTC-backed yield curve in Japan through perpetual preferred equity offerings. The firm registered a ¥555 billion shelf for two series of preferred shares yielding 6% each, echoing similar debt strategies used by MicroStrategy in the U.S.
Market Challenges and Investor Sentiment
Despite its bold moves, Metaplanet’s stock has faced turbulence, falling 8.6% last Friday to 866 yen. Shares recovered slightly on Monday, edging up 0.6% by midday. Gerovich acknowledged investor frustration over the pullback but stressed that recurring bitcoin income-generation has expanded for three consecutive quarters.
“This recurring income adds resilience and supports further accumulation,” he explained, noting that the firm is positioned to handle potential future financing.
Bitcoin Price Outlook
Bitcoin slipped 2.1% over the past 24 hours to trade near $115,305 on Monday, paring back gains from July’s post-halving rally. Analysts at Cryptopolitan suggest BTC could consolidate near $105,000 before making fresh attempts at $118,000, or face a correction toward $101,000 if selling pressure continues.
Looking ahead, forecasts for 2025 place potential highs near $160,000 and lows around $68,000, with ETF inflows, U.S. rate cuts, and institutional adoption expected to be key drivers.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Source: https://coindoo.com/metaplanet-expands-bitcoin-treasury-while-btc-tests-115k-support/